getting earnings they would getting a pop primarily because they dodged a bullet. everybody was focused on s&p, they were killed yesterday down 11% because the government inquiry which is bypassing booties , which might have done the exact same thing. nicole: the analyst said there was severe migratio mitigation . liz: lets let's brew it up forn mountain coffee. earnings minutes from now. this stock has had quite a resurgence ever since several months ago which dave and i trying to feed it down. nicole: we have had such volatility with this company, so we will be waiting now moving to nine-month highs at the closing bell rallying into the clothes, something for sure to watch.

david: social networking has been beaten down for quite a few months now, but today was a great day for zynga, up 9%, group one doing well and facebook. all doing well. nicole: a lot of that comes from the unexpected quarterly profits. liz: another volatile name. nicole: up 6% pulling back with positive comments. you have had the ceo on a number of times. david: we are listening to the bells ringing on wall street. kind of a mixed day on wall street. the dow managed to come into the green, the s&p exactly the same percentage point at least for now. the nasdaq unable to hold onto any kind of games although down just a tick, the russell 2000 actually the best gainer of all. liz: ending in the green for the s&p and the dow, a big fight back certainly.

one of the bright spots today, the best performers getting a lift from earnings from ralph lauren, time warner among the best gainers. ralph lauren the best performer on the s&p. david: commodities that deal with things that we make and rebuild. a big day for steel led by a case till after better-than-expected guidance for 2013. etf, the top holdings including bail, tinto and costco. liz: and did you see japan's market? this is a big move here. touching the highest levels since all wen only back to september 2008. the yen touching a near three-year low. this is all related, this makes the japanese company's products much more expensive overseas, very positive for japan. try to devalue the currency with

seamless programs now finally working if you call weaker currency working. david: a very big hour coming up for you. prudential, visa, green mountain coffee and news corp. all expected any moment we will have the results as soon as they are announced. s&p ratings company accounted is being sued by our government. a first on fox business interview, former sec chairman harvey pitt telling us whether our concerns our government to bcould be using the agencies as political weapons. liz: the man who has led his fair share of american turnaround, ed whitaker, chairman and ceo of general motors and ran at&t will be here in the studio. talk about gm where he believes it is going to go. david: the first of the earnings report in just now. green mountain reported, what are the numbers? adam: $0.76 earnings per share,

street expecting $0.65 on revenue of 1.34 billion. the street expecting 1.33 billion. they say the single cup brewing system is a breakthrough for the brokerage business with significant untapped potential in the u.s. and globally. he didn't report for how many of those units they sold in the last quarter. lizdavid: there are all kinds of indices which may explain why it is down slightly after hours. let's go to today's market action at the picks of the cme. our market panel in just a second. chief investment officer. but let's go to mark sebastian and put up those after our numbers if we can because we had a beat on green mountain but down after hours. why? >> it has to be some sales are forecast and because those numbers are really good.

the market was expecting a huge move. pricing 15% move. only moved to about 10. liz: here it is, you're absolutely right, beating the outlook and the company says growth will continue to moderate in the overall total coffee and espresso maker category, which is the big bread and butter part of the business so when they hear the word moderate, not too exciting. >> right. it is overall coffee question marketed in starbucks just come out and kill it? i think it is more of a green mountain thing. very, very specialized product, something like apple, and everybody is kind of catching up. experiencing may be a little mini apple. they really don't have a lot more tricks up their sleeves. green mountain i think we will be looking at something ends up

getting acquired in the next couple of years because that is really where they're going to have to go. i don't see how they function as a stand-alone company long-term similar to a thing as a perfect acquisition of pepsi or coca-cola. david: right now after hours anywhere from four to six to 7% on the downside. we do have visa coming up, you think visa to be the most important earnings we get today. why? >> for sure. visa tells you where is the consumer, where is the everyday consumer? they are behemoth of spending. we already got a glimpse of them with ebay and mastercard, both pretty good. visa is such a great feel the pulse of where payment processing is going. the other thing i'm really interested to hear if the retailers are able to charge an extra fee on credit cards.

really want to hear they have anything to say about how that could affect their outlook. they have priced in options under 3% move on this stock, about $4, think that was really, really cheap. don't be surprised if visa moves one way or the other. liz: aliz: as soon as we get the numbers, we will get them to you, but in the meantime we bring in our market panel. tim holland and stephen. let's go right to you first, you are made fully invested, can you talk about it? right now there seems to be a lot of positivity out there, and i'm wondering when you feel that way, where are you allocating the money? >> the small-cap core strategy and large-cap core strategy is significant exposure to consumer and the services names. for us it is about the first 12, 14 months.

people have a bit more money to spend, jobs are coming back and all that ties in to consumer sentiment and spending that will help those names facing the consumer but the banks are secondary beneficiary and with capital market acting better, yours in the capital markets put up much better numbers and acting much better, so for us -- david: we see the news corp. earnings, wants to update viewers on those earnings. adam: a beat on earnings per share, adjusted earnings per share eating expectations. revenue 9.43 billion, the streetstreetexpecting 9.28 bill. a couple of things in the report, published in operating income 234 million versus year over year same quarter 218 million. cable side 945 million versus 882 million for operating income year over year same quarter.

david. david: go ahead. liz: up 19% versus the same time a year ago. the television cable looking strong. david: stephen, you are also fully invested right now, but you're cautious, you go for cautious investments, what doe, where it is a cautious investor park is money right now? >> we have done very well in the last year, investors have got to understand the market is going up, but what is behind the market, where are the fundamentals behind it? we still have slow growth in spending out of hand, earnings are slowing down a little bit even though we do see some good earnings but you have to understand is that going to keep climbing and climbing after a recession like 2008. it will slow down and hasn't slowed down.

you have to be very, very cautious and we don't expect double-digit returns at all. liz: don't expect double-digit returns at all. when you figure out you like the mid and small caps which have been pretty strong, what are we, in the 12th year of a bull market? this looks very good, what would change your view on being as fully invested as you are right now. >> as stock pickers would like to look at the market one company at a time. we think 2000 small-cap stocks in the russell 2000, the benchmark for this space, we're looking at 50 to 70 of our best ideas, broadly diversified and 5270 names in 2006, we usually do a pretty good job picking out the winners. so we are fully invested, that is our mandate but we still see good opportunities with consumer part of the market and financials.

financials are one of the largest parts of the market nowhere near the five-year highs or multiyear highs, so we can think valuations are particularly supportive and under owned part of the market because people got burned so badly in '08 and '09. in the commodity market we do expect a fairly flat market, but it is all based on where is the trend, where the price is going? we weigh all securities on the risk contributions to whether it is gold or oil, they have the same risk contributions in the portfolio all based on where the price is going. precious metals have been fairly stagnant to slightly up, but in terms of wheat and other types of commodities, it is just where the price is going and we look to fall the price long or short in the market. liz: the market is out, here as well as of the numbers.

>> buyback stocks, that will take place in 2013. the street expecting $1.79. revenue 2.85 billion. david: mark sebastian, what you think of the numbers from visa? >> everything was great. up a couple dollars after the bell. david: down about $1 after, but things may change. you're happy with the numbers. >> i am really happy. the stock repurchase, we can get weird after-hours action but that can be a fun one tomorrow, i will be watching that one all day to be looking to get in. david: you just talked it up, down 159, you just talked it up after hours. >> you can see the power of my

commentary. only on fox business. david: that is why we have you on fox business. liz: the power of you guys, thank you very much for joining us. david: is the government using predatory enforcement selectively? to target companies that he doesn't like? coming up a first on fox business interview, former sec chairman harvey pitt on the big question being raised on the government's case on s&p. liz: a rise in the occupancy rate, the company is up nearly 20% over the past year, the ceo joining me live. which are showing the most strength. stay tuned. [ indistinct shouting ]

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david: s&p futures are closed ce right now, let's go back to the pits of the cme, live earning reports. the futures at all? >> we sold off about half a dollar after the bell. really established a tone now. this first quarter really showed us he have to be a good stock picker, which is very different from 2012 when he could basically go along the market. i think it is a trend we will see. the year of the stock pick. liz: mention 4.5 million shares of coffee sold by green mountain. a huge jump, but the stock is falling. we go back to nicole to really look at this outlook. nicole: it certainly is the outlook. talk about a quarter that came

in and we see the numbers, but it is the outlook that is disappointing for green mountain coffee roasters. talk about second-quarter revenue will be below what they originally anticipated. a stock that is trading in the 43 and a half dollars range. green mountain coffee roasters after the numbers came in pizza street earnings-per-share were better. you talked about the keureg. this is a stock that has run up exponentially after being shorted, we have seen it with a lot of volatility the last six months or so, but now today, tomorrow, it will be one to watch for sure. david: a huge drop. liz: i don't know what else the company can do when those numbers look as good as they have. david: 88% rise in three months, that is a tough level to

maintain yourself that. shares falling after releasing its fourth-quarter results, the quarter beats street estimates by 2011 outlook came up short. liz: the outlook still up 20% over the past year, so let's dig deep into this company, the world's largest owner of warehouse and distribution centers. joining us now, chairman and ceo. from your perspective, really want to know how is commercial real estate? >> it is very well. we're in the industrial sector. 2013 and beyond will be our time in the sun. david: you lease out williams, tens of millions of square feet of space, warehousing and small businesses so you can get a pretty good idea of what happened in the economy. are there any trends you're noticing based on the warehousing deals? >> i can probably comment on

geographic trends and industry trends. on the geographic side i would say on the emerging market, brazil, mexico, china are growing very fast and sensational demand for our products in those three markets. in mature economies the u.s. is doing quite well and japan is growing modestly. europe has positive trends but not strong as you would expect. david: what are the positive trends of europe? everybody's looking for a market of hope. >> not just for us, but for the market the last two years. in the midst of restructuring the supply chain as a way of reducing the cost structure of the companies that operate and that is good for our business because it generates demand for new warehouses and we are the market leader, so it has been great for our business in the last 24 months. the robust economy would even be

better but you can't ask for everything. liz: you're asking for a lot here. let's dig into the real fibers of the fabric of the company so the people understand you have done deals with amazon, they think they're ordering products, flying in from warehouses and businesses you actually own, amazon properties in eight different markets over the world, signed a new deal, people look at amazon, how healthy has that been in the books? >> amazon specifically, there are other e-commerce players taking up a lot of space. you name it whether it is raised and mortar retailer or a pure online company. a global phenomenon, not just a u.s. phenomenon at all. we are seeing this in brazil, china, japan, so these companies

basically use warehouses and their analog for retail space and we're the largest provider of warehouse space around the world, 550 million square feet of this stuff and pretty active development that can support the business of the growing companies. david: is that significant at all? >> not really. think back five years when you have the leases expiring, the crisis just starting in the fourth quarter of 2008, really accelerating 2008, those were big market not getting market to market, but that is the last bit of it. as soon as we get into 2013, and that trend will reverse as well. liz: thank you very much. david: thank you for coming in. liz: obvious to the internet and

everybody buys stuff on it, he is a real beneficiary of that. david: 22 countries, he knows what is happening. liz: the man who was brought out of retirement to turn around general motors and was not even a car guy, but he did it, went public. ed whitaker tells us how he took on such a massive tax when asked and where he sees the auto industry heading now. david: and the federal housing administration could be asking for another bailout. coming up next, we had to washington, d.c., where a hearing was held for what kind of a shaky agency is in and what they're about to place even more of your tax dollars at risk. all stations come over to mission a for a final go.

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liz: call it the megamerger of all-time damage national cable company agreeing to buy british cable company for $16 billion creating the greatest company. getting access to europe's largest cable market, the uk, the head chance to speak with the ceo and president and asked him if the deal would mean big changes to the currently very successful strategy which has been paying off. here's what he had to say. >> the management team that's in a fantastic job is to point out

in the broadband business, new connective tv platforms, mobile, they have strong competitive advantages in that market and we don't plan on disrupting that were changing the course materially. we will add value where we can but more importantly keeping it moving. liz: the engine began to move us in that the data was telegraphed a couple of days ago. you will see us jumped, quite a spike. today's pullback just a little bit but not for $7 change. you do see the equator pulling back, but telling me, david, the absolutely does not feel there is going to be regulatory hurdles in front of them, they feel they will get along very well. david: we will see what happens. liz: federal housing administration running out of honey and guess who would be bailing them out. you. david: lawmakers taking deeper

into the state of the fha. the very latest on this. another bailout, peter? peter: maybe. that is what this hearing was about. to see if it would be another fannie and freddie, they got 150 billion, 180 billion, depending on how you count it. in november it reported an economic value of negative $16.3 billion basically meaning it $16 billion capital shortfall in the capital reserve because of mortgages going bad. one fha critic of the enterprise institute testified this morning that by his analysis the fha is down by more than $50 billion. so critics say the bailout is coming, but supporters of the fha say critics are hyperventilating. >> private financial institution and likely somebody would be

fired, somebody would be find in this dish would find itself in receivership. instead it is on its way to becoming the recipient of the next great taxpayer bailout. >> yes, the fha is a little bit of issue at the moment because of the counter supercold mission, was part of the original mission to come in during difficult times. they did that and they're in trouble because of it. peter: critics hope the hearing would lay the groundwork for another shot at legislation to try and reform the fha. just last week the agency took more steps to sure up the finances including raising the premiums yet again, docking other reforms. supporters say the agency has billions of dollars of cash on hand to tide it over in the short run, whatever that is, a few years.

in the meantime they hope the higher premiums and the changes will help restore the finances and the housing market recovers writing more mortgages. david: shades of fannie and freddie. exactly the same. liz: peter, thank you very much. david: ratings company s&p is being sued by our government for something that allegedly happened years ago. so why did the government wait so long and why focus on just one ratings agency when they are apparently all doing it? sec chairman harvey pitt exclusively on fox business on whether the government is selectively using its powers to prosecute companies it doesn't like? liz: up next, ed whitaker, former chairman and ceo of general motors. he came in when the government asked him to to save this company, pull it out of bankruptcy. he stood at the helm of some turnarounds.

he joins us after the break life. find out how he did it and if gm will fully recover. .p . . ..ç when, but thieves cal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind.

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general motors filed for bankruptcy. received a $50 billion bailout and 16 months later launched largest ipo in history. ed whitacre was the man -precruited out of retirement to rescue the failing auto company. not even a car guy by his own admission. he is speaking openly about the time at gm in his brand new book, american turn around. he is here with us now. i remember when they said ed whitacre would be the guy? i thought, ed whitacre from at&t? i think it is so fascinating in this book how you talk about being brought in, getting the call steve rattner and your first reaction was what? >> my first reaction was no. i know nothing about cars. i can drive one. i can start one and drive and that's it. liz: why were you the right guy for what is now indelibly marked in our history at a time when general motors almost went

entirely under and disappeared? >> i'm not sure i was the right guy but it worked out okay. so maybe i was. but i had worked at a big company. a unionized company. he had worked there a long time. gm was a big company. i knew something about organizations and people. so maybe that's why i got the call. liz: you also two into your early history. that was you grew up thinking you would work for the railroads just like your dad. >> i did. liz: it has been an interesting journey certainly to become one of the top corporate leaders in a free market world and therefore, why did you go along with a government bailout which is the antithesis letting the free market take over in this case? >> well, for a couple reasons. my family had grown up with gm cars. my first car was a chevrolet. it was part of america. it was the fabric of america. world war ii, all beyond, made lots of different products. it was just a great american company and i didn't want to see that company go away.

there was no appetite in the private sector to rescue gm. around i don't think most people realized how many suppliers were --. liz: would have gone under. >> yeah. not only would have been gm employees but would have been really millions of jobs. we couldn't afford that in this country at that time. liz: so you said, all right. i'm in, steve rattner. fine, president obama. actually the bailout with the auto companies started with president bush. let's get to when you first walked into the renaissance center. you started asking people, that is one of my favorite chapters in the book. tell me what you do and tell me whom you report. some people couldn't even give you a straight answer. >> that's true. they couldn't. i asked one person, what's wrong with gm? and he said there's nothing wrong with us. the economy got us. and i said what about the other auto companies? there was no answer to that. who do you work for?

i work for several people. that is dead giveaway. what do you do? it was difficult. liz: it was a bloated, bloat system. >> it was. liz: it seemed to you people that worked on one portion of a car didn't understand the other parts of the car. >> that's true. liz: how did you get it all together once again? >> we got all the management people, once we changed the organization in a room and said what do we do at this company? we settled in a short period of time on, we design, build and sell the world's best vehicles. we preached that to every employee at gm from the top to the bottom. we empowersed people. we held them accountable. we gave them the authority to do their jobs. we simplified, got rid of some bureaucracy and miracles occurred. liz: i also thought it was very funny where you said, why are nonboard members sitting in on board meetings. people would inherently show up which is big no, no in the corporate world. >> you don't do that sort of thing. liz: you cleaned all of that up. the volt, you said it was

very important to pursue the volt, because i want the quote, because i like this quote. it was a message that was sent that gm as a creative force is back! is it though? are you happy with where the volt stands today with the sales that are not quite issues?nd a couple of other >> it's a great car. you would like to sell more. corporations i think have a responsibility to push the technology front. with all the talk i think of climate and environment, i think companies are obligated to go forward. we'll see where it goes but it's a great vehicle. yes, i think it was important. i think it is important. it's a great car. liz: you were there at the level where the government was stepping in and charlie gasparino believes, he wrote a column and he said the government just wanted to control general motors and make it government motors. when will the taxpayer be made whole in all of this? the stock price was ipo'd at $33 a share. we're trading below that. >> i would like to say the government didn't help us much except for money. they let management run the company. they did a great job.

they didn't look over our should. liz: you didn't get calls? >> we didn't get calls. they are terrific letting us do it. it is mostly paid back. there is some to go. i think gm should pay it all back. they will overtime. somebody will figure out how to do that before long. i thought they should have sold it, the government should have sold the entire stake. it is our stake, yours and mind as taxpayers at the ipo. they chose not to. i can't tell you why but i'm confident gm will pay it all back. liz: the book is called, american turnaround. it is as much a story of a guy like ed whitacre who doesn't want to let a great american iconic company go under. >> right. liz: you served where you could. you have to read the part where he goes to the detroit auto show. everyone is saying tell us about this car. it's a great car. >> i had only been there couple weeks. liz: not a car guy you helped save it. >> thank you very much. liz: ed whitacre. dade, over to you. david: the government is suing s&p for billions of

dollars but the alleged fraud happened over five years ago. is this payback for s&p's downgrading of u.s. debt? coming up next, a first on fox business former sec chairman harvey pitt on the suspicious timing of the government's announcement. ♪ . this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger,

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>> i'm adam shapiro with your fox business brief. it was a mixed market at the closing bell with the dow finishing the day seven points higher ending at 13,986. shares of yelp are under pressure in extended trading following its fourth quarter results. the online review and information company posted a wider-than-expected loss of 8:00 cents which was three cents more than forecast. on the upside, revenue beat estimates at $41.2 million. yelp says the active local business accounts during the fourth quarter grew 67%

year-over-year. a rare 1865 photograph of the brooklyn atlantic baseball team will be auctioned later today. the auction company says it could go for half a million dollars. the yard was discovered at a yard sale in maine. it is considered one of the first baseball cards ever produced. that's the latest from the fox business, giving you the power to prosper did you know not all fiber is the same?

citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. david: the government's $5 billion case against standard & poor's shook the stock of its parent company mcgraw-hill which lost 11% of its market capital yesterday. the stock is down again today. the justice deemed claims the ratings agency deceived the public by boosting some of those lousy mortgage-backed bonds that led us into the 2008 credit crisis but former sec chairman harvey pitt wonders why the government took so

long to make its move. maybe more important, why the only ratings agency single out by the government coincidentally downgraded the government's rating? coincidence, harvey? a lot of people are saying this reeks of selective enforcement. "wall street journal's" lead editorial, payback for a downgrade. is that what is going on here? >> well, it is hard to say for sure but it certainly doesn't look very good. there are a lot of unanswered questions, not the least of which are some of the ones you referred to, david. this is all about conduct that occurred six or more years ago, and one has to wonder why it took the government so long to bring a case. it says was so clear. david: well you worked at the sec you brought many cases. did you ever have an instance where you had to spend five or six years collecting evidence? >> well, when i got to the sec that was the normal pattern. the commission would spend

five to six years and that's why i instituted a program of real-time enforcement. when worldcom had serious problems we were in court within 48 hours of discoverying it. and i think it's important for the government to be expeditious and to show that it is being tough but in a fair way. david: well, again, the question of selectivety is important too. moody's and fitch, there is no hard evidence, a case hasn't been made in court but it is assumed they were doing very much the same sort of thing s&p does. why not focus on one company? why not go against all three? >> it's very difficult to say. i suppose one appropriate reason would be if that's the only place where the government thought it had very clear evidence enough to get into court. but after all of this time, and knowing that all of

these rating agencies were doing exactly the same thing, this does not look good for the justice department. david: no, it does look like selective justice. let's get into the case a little bit here. this is one memo that they're using in building their case. i think one is from 2007. and of course the key, the government's case against s&p is that they, sort of soft peddled ratings because they were actually being paid by the same people whose instruments they were rating. here is one analyst who said the fact is, ttere was a lot of internal pressure in s&p to downgrade lots of deals earlier on before this thing started blowing up that the leadership was concerned, forgive me this is in the note. of pissing off too many clients and jumping the gun ahead of moody's and fitch. this is why they're bringing a case. do they have a case because of mem -- memos like that. >> it very well could be.

the gravamen of the case is not that the ratings were bad. that would be hard to bring because even though most people believe the ratings were bad. rather their case that standard & poor's purported to be independent and it wasn't independent. so it lied about its bias and its own conflict of interests. that's an easier case i think to try and make. david: harvey, let's pull back just a minute and look what's happening with regulations, not only those put forth by justice and sec but by others. there seems to be an attempt by people in government to use regulations, not to fix things, or to make us safer, which after all is the purpose of regulations but to expand the power of the federal government. is that a fair statement? >> i think it is and in one sense, david, this case is a classic example because you have one agency, the sec, which requires some of these credit ratings and now you

have the government saying, these credit ratings shouldn't have been given and they were tainted. it's a catch-22 type situation. david: harvey pitt, the former chairman of the securities & exchange commission. harvey, good to see you. thanks so much. appreciate it. >> good to be with you. david: liz, over to you. liz: david, i know you heard this one of the post office announcing it is ending saturday delivery of letters but it seems some don't want to let saturday delivery go without a fight. a possible legal fight? we'll talk about this next. ♪ . i'm a conservative investor.

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lead paint poisoning affects one million children today. if you're pregnant or have young children and your home was built before 1978, you could be at risk. learn how to protect your family. to find your home's danger zones, the health effects, or just to find help, log on to leadfreekids.org. david: well it used to be that neither rain nor snow nor sleet nor hail could stop postal carrier deliveries. now, it may not be the weather but their finances will halt deliveries. liz: the u.s. postal service announced plans to end saturday delivery to hopes and businesses starting august 1st. the announcement was met with much criticism that may very well end up in lawsuits, rich edson? >> it could be. the letter carriers union is exploring that. this is something congress has been preventing the

postal service from doing for years. now they decided to go ahead. they discovered something in the law that lets them end saturday delivery. the union says no way. in a statement, the pmg, is dubious claiming a loophole in the law that will allow him to do this. the union is exploring all legal and political actions to block donahoe's gambit. it if he is allowed to get away with the brazen attempt to override the law and congress he would be free to go to four-day or three-day delivery in the future. the u.s. postal service says it assumes somebody will sue. >> i would expect we'll get a challenge. you can never be sure nobody will sue you. this is america. you can see. we'll work it out. it is our intention that we would be able to work with congress. >> lawmakers are split on this overseeing the postal service in the senate, senator susan collins, republican from maine. she says this move is inconsistent with current law though other republicans in house who oversee the

usps says this is good move and helps them move toward budget sustainability. the post stall service lost $16 billion last year. back to you. david: no more netflix on saturday. liz: hadn't thought of that. how about this for a new business? a sleep salon. a place to go nap for a fee? we'll tell you about it next. ♪ . all stations come over to mission a for a final go.

this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one.

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